Bloomberg Worried About Tim Geithner’s Ability To Put Food On The Table

As you may have heard, because you’ve read the reports reports or picked up on the Morse code message he’s blinked out during every appearance on CNBC or he threw himself on the hood of your car and screamed “Get me outta here” the last time you drove up to the Treasury building, Tim Geithner is ready to say good-bye to Washington. Has been for some time, in fact, but previous requests to go home were all denied. Now that his bosses are supposedly going to allow him to leave in the event Obama is reelected, many are wondering what will be next for TG. Despite having spent the majority of his career in public service and giving the impression that he has no desire to work for Wall Street, Bloomberg is thinking that with the albatross that is his unsellable Larchmont house around his neck, a family, and college tuition to pay, Geithner may not have a choice.

The years in public service — particularly engaging in diplomacy with domestic and foreign partners — left a deep impression on Geithner, infusing him with a sense of purpose that he might find lacking on Wall Street…Yet the years in civil servitude have also left Geithner in need of a better salary. Geithner is one of the least wealthy men to head the Treasury Department in recent years. He took more than a 50 percent pay cut to assume the job. His $199,700 salary is higher than the $174,000 earned by most members of Congress. His pay has been increased by $8,400 in three years, yet his net worth pales next to such predecessors as Hank Paulson and Bob Rubin. With two mortgages and two college-age children, the lure of private-sector money could be hard to resist. BlackRock’s Fink, for instance, received $23.8 million in salary and stock in 2011, making him No. 1 in the Finance 50, Bloomberg Markets’ annual ranking of the best-paid CEOs at the largest U.S. financial companies.

Other ideas Bloomberg has for ways Geithner can make ends meet that he’s already said no to include writing a memoir. He “publicly ruled out” doing so in September, but they’re pretty sure he’ll reconsider after the guy he hired to patch up his roof tells him the whole thing needs to be replaced.

What’s Next For Tim Geithner [Bloomberg]
Related: Tim Geithner To Finally Be Set Free?
Also Related: Robert Shiller, Westchester-Area Realtor Rub Tim Geithner’s Nose In It

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33 Responses to “Bloomberg Worried About Tim Geithner’s Ability To Put Food On The Table”

  1. Guest says:

    I mean, the guy has not historically paid taxes so that's like an automatic 35% raise… oops, just saw his salary, make that a 28% raise.

  2. Puck It says:

    Y'know, Timmy, if you're can't afford a couple of gallons of gas, there's this ad I saw on Craigslist that might help you out.

  3. Gary Juicy says:

    Well, God gave you two kidneys for a reason, Timmy Tim Tim.

  4. Guest says:

    power > money

  5. PermaGuestII says:

    Well I sure as hell hope he's not planning a career as a motivational speaker.

    -guy who has heard him speak

  6. Bejujular says:

    We can offer you job security, respect and a generous severance package if you decide to leave.

    -UBS HR

  7. Cliff A says:

    Can you code?

  8. guest says:

    Sounds like a perfect candidate for Dealbreaker.

  9. Guest says:

    Anyone else bothered how they cherry picked Fink's salary?

    That's like saying he should go to Hollywood because Tom Cruise made $75 million last year.

  10. Guest says:

    Timmy G. and Miley Cyrus in a movie.

  11. guest says:

    Move to China and coach basketball?

  12. what now Bovay ? says:

    I assume speaking fees and board seats are in his future.

    Possibly an endowed chair somewhere, not sure if he has a PHD

  13. guerst says:

    Matt hasn't posted yet… This one's gonna be a monster.

  14. Guest says:

    You know the Mista Mista Treasury Secretary? I think I just killed her.

  15. Again says:

    Tim & Wollensky

    • Yup says:

      This solves the problem of putting food on the table. Only thing is that he'll be the server, so tip well.

  16. PermaGuestII says:

    $5 says he winds up at Citi with Peter Orszag.

    • guest says:

      eh, say what you want about TG, he's a bit more of a big deal than Orszag…

      • PermaGuestII says:

        True that– just meant he would be at C. "Vice Chairman & Special Advisor to the Board" or some such bs title that means he gets a large office, business cards, and a salary but doesn't do any actual work. Just someone impressive to trundle out when they need to speak to the Chinese or wow the leadership of sub-Saharan or South Asian countries contemplating a USD financing.

  17. The hobbit says:

    Money will get you want you want.